The Dow is in negative territory as financial shares sell off with their European counterparts
The Dow Jones Industrial Average (DJIA) has kicked off a historically bullish trading week in negative territory, as a sell-off in the European financial sector hits bank stocks at home. And while declining energy shares put pressure on the S&P 500 Index (SPX), the Nasdaq Composite (COMP) is trading near breakeven after Amazon's stock price hurdled $1,000 for the first time ever.
Traders are also digesting the latest round of economic data -- including a larger-than-expected drop in consumer confidence -- ahead of the mid-June Fed meeting, with rate-hike expectations running high. With the SPX and COMP trading in the red at last check, though, both indexes are at risk of snapping their seven-session winning streaks.
Continue reading for more on today's market -- and don't miss:
- The 25 best stocks to own in June.
- 2 sinking energy stocks.
- Plus, Nvidia options pop after new high; the drug stock up 40%; and a big energy buyout.
Among the stocks with unusual options activity is NVIDIA Corporation (NASDAQ:NVDA), with roughly 130,000 contracts traded -- or 1.7 times the average intraday rate. The weekly 2/2 145-strike call is most popular after the chipmaker topped out at a record high of $146.29, where it looks like some of the activity is of the buy-to-open kind. At last check, NVDA stock was trading up 2.8% at $145.77.
Protagonist Therapeutics Inc (NASDAQ:PTGX) is one of the biggest gainers on the Nasdaq, after the biopharmaceutical firm signed a development agreement with blue chip Johnson & Johnson (NYSE:JNJ). PTGX stock is up 41.7% at $11.65, after taking a brief trek north of its 80-day moving average -- a trendline the shares haven't closed north of since Jan. 3.
Atwood Oceanics, Inc. (NYSE:ATW) is near the top of the New York Stock Exchange (NYSE) today, after the drilling company agreed to be bought by ENSCO PLC (NYSE:ESV) in an all-stock deal valued at roughly $839 million, or $10.72 per ATW share. Most recently, ATW stock was trading up 25.1% at $10.10.